Derivatives and Risk Management (Tables)

12 Months Ended

Jan. 03, 2015

Schedule of outstanding forward contracts

As of January 3, 2015, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions):

Functional Currency			Contract Currency
Type	Amount		Type	Amount
Euro		160.4	U.S. dollar		211.6
British pound		26.0	U.S. dollar		42.2
Canadian dollar		34.4	U.S. dollar		30.9
Japanese yen		2,865.0	U.S. dollar		26.8
Australian dollar		15.0	U.S. dollar		13.1
Mexican peso		164.3	U.S. dollar		12.0

Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes

The effective portion of gains and losses on cash flow hedges that was recognized in other comprehensive income (loss), net of taxes during fiscal years 2014 and 2013 was (in thousands):

	For the Fiscal Year Ended January 3, 2015			For the Fiscal Year Ended December 28, 2013
Cash flow hedges:
Forward contracts	$	22,927		$	(1,391	)
Interest rate swap		(2,159	)		(1,031	)

Total gain (loss) recognized in other comprehensive income (loss), net of taxes	$	20,768		$	(2,422	)

Schedule of effective portion of gains and losses on derivative instruments designated and qualifying as cash flow hedges recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings and gains and losses on derivatives not designated as hedging instruments recorded

The following table illustrates the effective portion of gains and losses on derivative instruments recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during fiscal years 2014 and 2013 (in thousands):

	Consolidated Statements of Income and Comprehensive Income Location		For the Fiscal Year Ended January 3, 2015			For the Fiscal Year Ended December 28, 2013
Forward contracts designated as cash flow hedging instruments	Other income-net	Total gain (loss) reclassified from other comprehensive income (loss)	$	5,856		$	(246	)


Forward contracts not designated as hedging instruments	Other income-net	Total gain (loss) recognized in income	$	(148	)	$	567


Interest rate swap designated as a cash flow hedging instrument	Interest expense	Total gain loss reclassified from other comprehensive income (loss)	$	(1,763	)	$	(925	)

Schedule of fair value amounts for derivative instruments as separate asset and liability values on a gross basis and their location on condensed consolidated balance sheets

The following table discloses the fair value amounts for the Company's derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):

	Asset Derivatives						Liability Derivatives
	January 3, 2015			December 28, 2013			January 3, 2015			December 28, 2013
	Consolidated Balance Sheets Location	Fair Value		Consolidated Balance Sheets Location	Fair Value		Consolidated Balance Sheets Location	Fair Value		Consolidated Balance Sheets Location	Fair Value
Forward contracts designated as cash flow hedging instruments	Prepaid expenses and and other current assets	$	25,867	Prepaid expenses and other current assets	$	3,289	Accrued expenses-other	$	0	Accrued expenses-other	$	7,651
Interest rate swap designated as a cash flow hedging instrument	Prepaid expenses and and other current assets	$	0	Prepaid expenses and other current assets		0	Accrued expenses-other		2,157	Accrued expenses-other		2,783
Forward contracts designated as cash flow hedging instruments	Intangible and other assets-net	$	1,802	Intangible and other assets-net		219	Other long-term liabilities		0	Other long-term liabilities		563
Interest rate swap designated as a cash flow hedging instrument	Intangible and other assets-net	$	1,724	Intangible and other assets-net		4,307	Other long-term liabilities		357	Other long-term liabilities		1,693

Total		$	29,393		$	7,815		$	2,514		$	12,690